Mill Valley, Calif.—Thompson | Dorfman Partners LLC, a developer, owner and manager of multifamily real estate, announced that Laurence Pelosi has joined TDP | Bay Area Partners LLC, a Thompson | Dorfman company, as a partner. Pelosi will leverage his 15 years of experience to expand the firm’s capital market activities and new development opportunities in major markets located in high-growth, technology-driven markets in California. Pelosi joins new Partner Bruce Fairty at TDP | Bay Area Partners.
Pelosi is a co-founder and remains involved with Hatch Today, a co-working space environment in San Francisco, and McKinley Realty Partners, which is focused on acquiring single-family rental housing and land development. Pelosi was most recently a director with RBC Capital Markets, where he was primarily responsible for public finance, infrastructure and public/private partnerships. Previously, he was an executive director at Morgan Stanley, where he focused on the firm’s residential investments throughout the western United States and was Director of Acquisitions at Lennar Communities. Pelosi began his career as a real estate and land use attorney in San Francisco.
Thompson | Dorfman Partners currently has more than 1,200 residential units in its growing pipeline or under construction in the Bay Area. Thompson | Dorfman Partners, in venture with Ares Capital, is currently under construction on a mixed-use 81-unit luxury apartment and ground floor retail development at 2655 Bush Street in San Francisco’s lower Pacific Heights neighborhood. TDP also broke ground on Triton Pointe in Foster City, a mixed-use development that includes 43,000 square feet of office space, 8,000 square feet of retail and a 166-unit apartment building. Triton Pointe is being developed in concert with CityView.
“There is no question multifamily development has become overheated in certain markets and, even in the Bay Area, we have quite a lot of development in concentrated areas but, if you look at the overall supply/demand dynamic, there is still a long term imbalance. Not to say the market will not have some ups and downs but if you build the right product in this market, the demand over the short and long term is extremely strong,” Pelosi tells MHN.
Pelosi currently serves on the board of Family House, a not-for-profit organization providing temporary housing to families of seriously ill children receiving treatment at the University of California, San Francisco Benioff Children’s Hospital. He is a member of Lambda Alpha and the State Bar of California, and received a Bachelor’s degree from the University of California at Berkeley and a Juris Doctorate from Georgetown University Law School.
Originally published by Multi-Housing News on November 5, 2013.